The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Erika Najarian - UBS Investment Bank, Research Division - Analyst
: Dana, great job on Slide 8, by the way. David, I wanted to go back to Slide 8. Can you -- what your plans are for security book, your cash balances
from here? Obviously, if IOER continues to be full to set funds, your cash is going to be working a lot harder by the end of the year.
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JULY 22, 2022 / 2:00PM, RF.N - Q2 2022 Regions Financial Corp Earnings Call
Question: Erika Najarian - UBS Investment Bank, Research Division - Analyst
: So I just wanted to make sure we're taking away the right message here. From second quarter NIM, 306 can hit a net interest margin of 370 to 380,
right, from higher beta to base case at a Fed funds rate of 3%. And if the Fed starts cutting rates, your swap program has protected you to 360.
Question: Erika Najarian - UBS Investment Bank, Research Division - Analyst
: Okay. And my other question for you, David, is if we were to prepare for a mild recession, how should we think about how more ACL build there
may need to be from that 162?
Question: Erika Najarian - UBS Investment Bank, Research Division - Analyst
: Yes, in a mild recession.
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